Business Extra

Start-ups, AI and social change: Zayed University X Minerva

Students at Zayed University began a new bachelor's degree programme on Tuesday. It is the first stage in a plan to transform the way the Abu Dhabi university teaches students over the next five years. The course is designed to build skills in critical thinking and project management, alongside studies in entrepreneurship, artificial intelligence and social change. The programme is a tie-up with US education provider Minerva Project, called Zayed University X Minerva.

"For the last 30 years universities have done an abysmal job at training their graduates for the present," Ben Nelson, the founder and chief executive of the Minerva Project, told host Kelsey Warner on this week's Business Extra.
"We need graduates who are prepared for this world right now. And we have to acknowledge that universities fall woefully short in that order." He said Zayed University "not only recognised, but decided that they had to do something about it".

Hosted by Kelsey Warner

Produced by Arthur Eddyson and Ayesha Khan

In this episode:
Challenges and opportunities for students and recent graduates (1m 05s)
Zayed University x Minerva partnership (2m 56s)
The Minerva way of education (6m 54s)
Future-proofing careers (12m 35s)

Read more on our website:

• UAE jobs and salaries: who is applying and how much should they earn?
• Zayed University to transform the way it teaches students over the next five years

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Solutions to youth unemployment in the Middle East

The numbers are striking: over the next 20 years, 127 million young people will enter the labour force in the Middle East and North Africa, but face an unemployment rate of 23 per cent. At the same time, nearly 29 million jobs are at risk of being displaced by 2030 because of automation.

In a new report McKinsey lays out solutions to address the issue of youth unemployment in a changing labour market.

Tom Isherwood, a senior partner at the consultancy, joins co-hosts Mustafa Alrawi and Kelsey Warner this week to discuss how to give dignity and purpose to this rising generation.

In this episode:

Overview of recommendations (0m 47s)

Can the region work together? (6m 54s)

Political challenges (9m 25s)

Youth ambition and what the next generation wants (14m 00s)

Read more on our website:

• Five ways to reverse decades of youth unemployment in the Middle East
• Abu Dhabi's Adio in talks with 'dozens' of companies to set up innovation and R&D centres

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Clean hydrogen explained

Clean hydrogen is one of the most hyped solutions to achieving net zero in time to avert climate catastrophe.

 

While it's true the molecule has a major role to play in decarbonised economies, massive hurdles remain. But Paddy Padmanathan, chief executive of Acwa Power, is a believer.

 

He says over the next decade, challenges around transport and pricing will rapidly diminish, paving the way for a hydrogen-powered future. He joins co-hosts Mustafa Alrawi and Kelsey Warner this week to explain how the universe's most abundant element works, and why it's a viable solution to our planet's biggest existential threat.

 

In this episode:

Code red (0m 56s)

Hydrogen energy opportunities (2m 33s)

Hurdles to overcome (7m 16s)

Who is paying for the development of Hydrogen? (9m 28s)

Race towards 2050 (20m 10s)

Read more on our website:

• Adnoc to sell blue ammonia to Japan's Idemitsu as part of hydrogen strategy
• Britain must double hydrogen production to meet net-zero target
• Climate change: 'Code red for humanity' as UN report warns of disaster

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Can robots care? A conversation with the World Economic Forum's head of AI

Do robots care? What should companies keep in mind before using facial recognition or machine learning? Can new laws being mulled in the EU protect citizens from fast-changing technology?

Kay Firth-Butterfield, the head of AI and machine learning at the World Economic Forum, joins host and The National's Future Editor, Kelsey Warner this week to field these questions, and more.

 

In this episode:

Who is Kay Firth-Butterfield? (0m 38s)

The benefits of AI (1m 09s)

Problems which come with AI (4m 38s)

Policy making in AI (12m 02s)

Ethics and AI (19m 18s)

 

Read more on our website:

• EU's plan to control artificial intelligence 'will have positive global impact'
• MBZUAI president: Artificial intelligence can transform health care and energy
• US: lethal attack on ship in Arabian Sea used explosive drones

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Bucking Covid-19 trend, Saudi women take job market by storm

More Saudi Arabian women are joining the workforce than ever before as wide-sweeping reforms bear fruit. But the country's recent progress is an outlier in a global jobs market much changed by the Covid-19 pandemic.

 

The National's Deena Kamel's recent reporting uncovers how working women are juggling heightened workloads and more household duties, leading to job dissatisfaction, pessimism about career prospects and deteriorating mental health.

 

She joins co-hosts Mustafa Alrawi and Kelsey Warner this week to talk about how Saudi Arabia is reaching its targets amid broader, less encouraging trends affecting gender inclusion and progress.

 

In this episode:

Impact of Covid-19 on women's careers (0m 44s)

Saudi and female workforce participation (3m 20s)

Women's mental health (8m 18s)

Where are we going from here? (11m 16s)

Diversification in the private sector (18m 27s)

 

Read more on our website:

• How Saudi Arabia's women are pushing into the workforce and transforming the economy​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​
• Pandemic is an opportunity to improve gender diversity in aviation, Iata says
• Women believe career prospects have been hampered by the pandemic
• Saudi healthcare group buys online retailer Mumzworld

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5 emerging investment themes for sovereign wealth funds

Regional sovereign funds backed local economies amid pandemic while investors have also shifted their strategies to focus more on equity markets and ESG opportunities. This is according to the latest report from US asset management firm Invesco, which surveyed 141 chief investment officers, heads of asset classes and portfolio strategists at 82 sovereign wealth funds and 59 central banks across the globe, who manage a combined $19 trillion in assets.

 

Josette Rizk, Middle East and Africa director of Invesco's institutional clients business, joins co-hosts Mustafa Alrawi and Kelsey Warner this week to unpack five emerging themes from the firm's survey.

 

In this episode:

Invesco's report (0m 45s)

The impact of Covid-19 on sovereign funds (4m 39s)

All eyes on China (8m 35s)

Sovereigns and climate change (12m 15s)

 

Read more on our website:

• Regional sovereign funds backed local economies amid pandemic, Invesco says
• Working from anywhere is here to stay, says boss of Majid Al FuttaimAround 87% of global executives embrace ESG as core strategy, survey finds
• Middle East SWFs hunt returns through private asset classes, Invesco says
• Europe's central bank steps up plans for digital euro

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Majid Al Futtaim CEO on the future of retail and cinema

Automation, e-commerce and the push for sustainability all have major roles to play in the future of retail.
That's according to Majid Al Futtaim chief executive Alain Bejjani. He joins co-hosts Mustafa Alrawi and Kelsey Warner this week to talk about how the Middle East's biggest mall operator is catering to changing consumer behaviour - and why cinema will never go away.

In this episode:
MAF and the future of retail (0m 40s)
Automation and carbon footprint (9m 21s)
Technology v human capital (16m 27s)
Cinema here to stay (26m 30s)

Read more on our website:

• UAE's retail industry nearing pre-pandemic levels, Middle East's biggest mall operator says
• Working from anywhere is here to stay, says boss of Majid Al Futtaim
• Saudi Arabia's retail market more investable as more women enter workforce, Majid Al Futtaim chief says

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Opec impasse and oil’s road to net zero

Opec and oil-producing allies are at a new impasse. But what does it mean and why is it happening?

To unpack a historic convergence of market dynamics, The National's energy correspondent Jennifer Gnana joins co-hosts Mustafa Alrawi and Kelsey Warner.

They explain Opec's current role in the energy industry, why US oil and Brent, the international oil benchmark under which two thirds of the world's crude trades, reached seven and three-year highs. Also discussed: why balancing the energy market is key to economic recovery from the pandemic and the increasing role the net-zero agenda is playing on oil producers' long-term strategy.

In this episode:
Opec and rising demand (0m 58s)
Oil prices that determine market stability (5m 13s)
Opec's importance in the global energy landscape (9m 44s)
UAE's strategy (16m 10s)

Read more on our website:

• US oil rallies to 7-year high amid Opec deadlock

• Flexibility is the only way out of the Opec+ impasse

• Explainer: What is Opec?

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Basrah Gas Company and the future of Iraq's energy

The Basrah Gas Company is a 25-year joint venture between Iraq’s South Gas Company, Shell and Mitsubishi. It was established in 2013 to process associated gas produced from three huge oilfields in the south of Iraq, that otherwise would be flared off. This gas then supplies power to the domestic market as well as to those manufacturing products for export. On Tuesday, it was announced that the World Bank's International Finance Corporation would provide $360 million to support the company’s growth.

Malcolm Mayes, managing director of Basrah Gas Company, speaks to host Mustafa Alrawi about how BGC is helping Iraq meet its growing energy needs and power an additional one million Iraqi homes while also reducing greenhouse gas emissions by about 10 million tonnes per annum.

 

In this episode:

Iraq and the Basrah Gas Company (0m 42s)

The impact on the environment (3m 22s)

BGC's plan down the line (5m 49s)

IFC's belief in BGC (15m 00s)

Iraq's future (20m 36s)

Read more on our website:

• Iraq to invest $3bn over five years in the Basrah Gas Company

• Siemens Energy to rebuild Mosul super grid destroyed in 2014

• Oil prices could reach $80 per barrel, Iraq's Oil Ministry says

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How Yas Creative Hub will bring the global entertainment industry to Abu Dhabi

Abu Dhabi plans to invest $6 billion over the next five years in its cultural and creative industries to create new jobs and attract talent.
One of the mega-projects at the heart of the plan is the Yas Creative Hub, a 27-hectare development expected to create 16,000 jobs over the next decade, tripling the number of people employed in the sector in the UAE capital.

Michael Garin, chief executive of TwoFour54 Abu Dhabi, which is behind the project, joins co-hosts Mustafa Alrawi and Kelsey Warner this week. Mr Garin fields questions on the timing of the project, Hollywood-level production value and why Abu Dhabi is smart to get into show business.

In this episode:
The Yas Creative Hub (0m 45s)
Who is coming to the Hub? (4m 40s)
Abu Dhabi to attract world-class talent (9m 30s)
The incentive to come to Yas (13m 56s)

Read more on our website:

• Abu Dhabi to invest $6bn in culture and creative industries amid economic diversification push

• How the 'Mission: Impossible 7' cast and crew stayed Covid-free in Abu Dhabi

• Megaprojects: Abu Dhabi's Yas Island to become the Middle East's media hub

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